Saudi Prince Alwaleed invests $300 million in Twitter

Alwaleed, an active investor, is one of the world’s richest people, with an estimated $19.6 billion fortune, according to Forbes. He’s also the nephew

Prince Alwaleed bin Talal

of Saudi Arabia King Abdullah bin Abdulaziz Alsaud. Over the years, Alwaleed has invested in a host of markets, including banking, real e


state, and hotel management.
In the technology market, the prince has given capital to or bought stock from, Hewlett-Packard, Apple, Motorola, and countless others. During the dot-com boom, he was heavily focused on Web companies.
However, his Twitter investment might be the most ironic. The social network has been credited for helping prompt the so-called “Arab Spring” that sparked uprisings across the Middle East over the past year. The trouble that leaders faced in Egypt and Libya nearly spilled over into Saudi Arabia before the government offered up a multifaceted spending plan to quell the unrest. In other words, the very tool the Saudi prince is investing in could have been used by protesters to organize revolts and eventually lead to his family’s downfall.

Alwaleed today acknowledged Twitter’s importance in world affairs, saying that the social network has a “global impact.”
For its part, Twitter hasn’t commented on the Alwaleed investment and did not immediately respond to CNET‘s inquiry on the matter. However, in historical proportions, it’s a big one. Since its founding in 2006, Twitter has raised about $1.2 billion.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s